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The result exceeded the Queensland coal miner's expectations of a profit between $10 and $11 million which it advised the market of early in July.
The company declared a final dividend of 3.78c per share fully franked.
Attributable coal sales for the year were 3.8 million tonnes and the company has said it will produce 4.5 million tonnes in the current fiscal year.
"Macarthur's solid financial performance comes on the back of the improvement in coal prices taking effect with the onset of the new Japanese financial year (1 April 2004) and improved production performance at the Moorvale mine during the second half of the year," said Macarthur managing director and chief executive Ken Talbot.
"Looking forward, coal demand remains strong with market analysts forecasting further coal price increases as a result of favourable market conditions leading into the forthcoming round of negotiations."
He said the company had eight projects in the pipeline which are being evaluated and prioritised for development.
Macarthur has already lodged a mining lease application over the initial open cut mining area at Olive Downs, which is intended as a satellite operation to Moorvale, with the capability of producing up to 1 million tonnes per annum of run of mine PCI coal.
Drilling is underway at the West Rolleston project to determine a resource. Other projects under evaluation include Monto, Codrilla, Wilunga and West Moorvale.
